“Needham and Company contributed to a steep decline in Research in Motion’s share price [on Friday] by warning investors that the BlackBerry creator is likely going to perform below expectations in the near future. Analyst Craig Bisagna notes that while RIM is secure in its business sales, Needham sees the company’s dismissive attitude towards competitors in a financial conference call Thursday as overly optimistic and unrealistic,” Electronista reports.
“‘We continue to believe that the company has its head in the sand,’ the researcher says on behalf of Needham,” Electronista reports.
“Bisagna explains that RIM’s recent success has largely relied on the limitations of its competitors rather than any particular strength… The iPhone was only a non-threat through the absence of full-speed 3G access and a too-high pricing, according to the report. Both have since been taken care of,” Electronista reports.
More in the full article here.
[Thanks to MacDailyNews Reader “MacVicta” for the heads up.]